Aston Hill Asset Management is changing the investment objectives of the Aston Hill North American Dividend Fund and the Aston Hill North American Dividend Class.
The new investment objectives of the Funds are as follows:
The investment objectives of American Dividend Fund the fund are to generate a high level of income and long- term capital growth by investing primarily in a mix of income-producing securities, including but not limited to, equity securities, common and preferred shares, real estate investment trusts (REITs), convertible securities, investment grade fixed income securities, higher yielding, lower quality fixed income securities, floating rate debt instruments and asset-backed securities and mortgage-backed securities, which may be located anywhere in the world.
The investment objectives of American Dividend Class the fund are to generate a high level of income and long- term capital growth by investing primarily in a mix of income-producing securities, including but not limited to, equity securities, common and preferred shares, real estate investment trusts (REITs), convertible securities, investment grade fixed income securities, higher yielding, lower quality fixed income securities, floating rate debt instruments and asset-backed securities and mortgage-backed securities, which may be located anywhere in the world. The fund may also invest in other mutual funds.
Concurrently with the change in investment objectives, the names of the Funds have been changed to Aston Hill High Income Fund and Aston Hill High Income Class, respectively.
As a result of the above noted changes, the Manager has reduced the management fees for Series A and TA6 securities of the Funds to 1.90% and the management fees for Series F and TF6 to 0.90 per cent.
Over the past year Aston Hill Financial Inc (Aston Hill) has been focused on building its in-house mutual fund platform, completing a corporate reorganisation, and implementing numerous cost-cutting initiatives across all lines of its business. Furthermore, it was previously announced that Aston Hill will be initiating its sales and marketing strategies specifically focused on Ben Cheng, President and Chief Investment Officer, as it is anticipated that he will be able to begin managing investment funds exclusively for Aston Hill for the first time beginning in late November 2015.
